SMEs Get Major Lifeline As Equity Bank Backs Top 100 Survey!
Olivia Mugaba Head SME Equity Bank signs on the launch banner at the launch of the Top 100 SME Survey 2026
Our Reporter
Equity Bank through their support and commitment to Uganda’s small and medium enterprises (SMEs) are yet again partnering with KPMG and Nation Media Group (NMG) as they launched the 2026 Top 100 Mid-Sized Companies Survey, a flagship initiative designed to generate critical business insights, strengthen enterprise resilience, and unlock sustainable growth opportunities.
Launched at KPMG headquarters in Kampala on Thursday, 25 June 2026, the survey enters its 19th year under the theme “Monetizing Uganda’s Economy through Innovation, Value Addition and Market Expansion.” The initiative seeks to help businesses translate Uganda’s strong economic growth projections into tangible commercial success.
For nearly two decades, the survey has served as a strategic platform for benchmarking business performance, improving governance, enhancing access to finance, and preparing enterprises for expansion. More than 2,400 SMEs across Uganda and East Africa have participated, with many graduating into larger business categories and exploring capital market opportunities.
As a key sponsor and long-term partner, Equity Bank says the survey is more than an annual ranking exercise. It is a research-driven platform that enables the bank to understand the realities facing SMEs and develop financing and non-financial solutions tailored to their needs.
Speaking at the launch, Olivia Mugaba, Head of SME Banking at Equity Bank Uganda, said the survey provides valuable insights that help the bank remain relevant to businesses operating in an increasingly challenging environment.
“The survey gives SMEs a voice. It helps us understand their challenges, identify opportunities and design solutions that directly support their growth,” Mugaba said.
She noted that Uganda’s SMEs contribute over 90 percent of the private sector but continue to face high failure rates, largely driven by limited access to affordable finance, weak financial management practices, poor record-keeping and inadequate business planning.
According to Mugaba, Equity Bank uses findings from the survey to shape products and partnerships that lower the cost of capital while strengthening enterprise capacity.
“Funding alone is not enough. We connect businesses to partners, technical support and market opportunities so they can use financing sustainably and grow,” she said.
Through partnerships with government, innovation hubs and global development institutions, the bank has been able to mobilize affordable funding and business development support for entrepreneurs across different sectors.
Mwesigwa Associate Director International Development Advisory Services KPMG, Clare
Tumwesigye Head of Marketing and Communication, Dr Basil Ajer Director Tourism, Wildlife
and Antiquities, Susan Nsibirwa Managing Director Nation Media Group Uganda, Peter
Kyambade Partner KPMG, Olivia Mugaba Head od SME Equity Bank, John Were Uganda
Securities Exchange and Hajara Batuuka Ndagire, the Head of Marketing at Nation Media
Group-Uganda. This was at the launch of the 2026 Top 100 SME survey that happened at KPMG
Head Office Rwenzori Courts.
Nation Media Group Managing Director Susan Nsibirwa said this year’s theme reflects a growing concern among businesses that despite positive economic indicators, many enterprises are yet to experience meaningful financial growth.
“The economy may be growing, but businesses are asking where that growth is. This year’s survey seeks to answer that question,” Nsibirwa said.
She explained that beyond rankings, the programme provides SMEs with practical support through expert-led forums covering taxation, governance, financing and business strategy.
The survey will run from July to October before culminating in a high-profile awards gala in December, where the country’s best-performing mid-sized companies will be recognized.
KPMG Partner Peter Kyambade said this year’s survey will focus on three critical growth pillars: innovation, value addition and market access.
“Businesses that embrace innovation and value addition will be better positioned to compete and grow sustainably in a rapidly changing world,” he said.
Kyambade emphasized that market expansion remains critical for SMEs seeking to scale their operations and withstand global economic disruptions.
The Ministry of Tourism, Wildlife and Antiquities also backed the initiative, highlighting the central role SMEs play throughout the tourism value chain.
Director Basil Ajer said Uganda’s tourism industry continues to register strong growth, with visitor arrivals reaching approximately 1.64 million in 2025 and average visitor spending surpassing US$2,000 for the first time.
“Tourism growth creates opportunities for thousands of SMEs across accommodation, transport, hospitality and other support services,” Ajer said.
He added that government continues to work on measures aimed at easing the tax burden on tourism operators while expanding access to affordable financing ahead of major events such as the Africa Cup of Nations (AFCON).
Organisers say the survey remains one of Uganda’s most influential private-sector development initiatives, providing businesses with a roadmap for growth while generating data that informs policy, investment and financing decisions.
For Equity Bank, the partnership underscores its broader commitment to supporting SMEs beyond lending by investing in research, knowledge generation and ecosystem partnerships that enable businesses to thrive.
As Uganda pursues higher levels of industrialization, export growth and value addition, stakeholders believe the insights generated through the Top 100 Survey will play a critical role in helping SMEs convert economic potential into measurable business success. “When SMEs grow, Uganda grows,” Mugaba said.
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